This topic is locked from further discussion.
Do you think it was unregulated and overleveraged investment banks going balls deep in risky mortgage backed securities because investors were pining for more all the while hedging their bets with credit default swaps that ultimately collapsed with the dip in the housing market?
or do you think it was too much regulation because jimmy carter said banks couldnt be racist (or whatever the republicans say it is)?
Obama did itSerraph105
well that much is obvious, Obama is a muslim plant from al qaeda since birth. Donald Trump uncovered this fact in detail with the private detectives he hired that gathered massive amounts of incriminating evidence on Obama which he cant release, because hes too patriotic and it might be a blow to the country. How do you think Obama managed to kill Osama? its because thats where he was getting his marching orders from all along.
But on the less proven factual stuff, im wondering... what people actually think caused the recession...
i could do a book on this topic, but the two biggest reasons for the crap in the states are 1) S&L bailouts 1989 GB w/Dem congress 2) affordable housing act clinton w/Dem Congress when you take away the risk of failure and then tell banks who they need to extend credit too youre going to cause major problems, there are a myriad of other causes but those are the two biggies with the US, as for the world they invested in US real estate
i could do a book on this topic, but the two biggest reasons for the crap in the states are 1) S&L bailouts 1989 GB w/Dem congress 2) affordable housing act clinton w/Dem Congress when you take away the risk of failure and then tell banks who they need to extend credit too youre going to cause major problems, there are a myriad of other causes but those are the two biggies with the US, as for the world they invested in US real estate
surrealnumber5
So when mortgage backed securities were hot, and investors wanted more... but investment bankers couldnt find qualified applicants, so they lowered credit requirements and started giving out introductory variable loans they knew couldnt be repayed to appease demand... this was because of clinton?
It all starts and end with the banksters and specifically the private cable that is known as the FED and Alan Greenspan.
Good intentions.
[QUOTE="surrealnumber5"]
i could do a book on this topic, but the two biggest reasons for the crap in the states are 1) S&L bailouts 1989 GB w/Dem congress 2) affordable housing act clinton w/Dem Congress when you take away the risk of failure and then tell banks who they need to extend credit too youre going to cause major problems, there are a myriad of other causes but those are the two biggies with the US, as for the world they invested in US real estate
SoBaus
So when mortgage backed securities were hot, and investors wanted more... but investment bankers couldnt find qualified applicants, so they lowered credit requirements and started giving out introductory variable loans they knew couldnt be repayed to appease demand... this was because of clinton?
do you know any thing about that act? because even a backed bank does not want to give loans that it knows are bad, that is the bank taking a known loss. to mitigate that loss they packaged these poison deals and sold them on the market, this caused some purchasing nortic nations entire financial system to collapse. it is good to see someone bit the media spin though, but if i could ask you, what is the point of loaning someone half a million when you know at most youre only going to get 10% of that if you hold the loan, and 85% of it if you sell it on the market?
[QUOTE="surrealnumber5"]
i could do a book on this topic, but the two biggest reasons for the crap in the states are 1) S&L bailouts 1989 GB w/Dem congress 2) affordable housing act clinton w/Dem Congress when you take away the risk of failure and then tell banks who they need to extend credit too youre going to cause major problems, there are a myriad of other causes but those are the two biggies with the US, as for the world they invested in US real estate
SoBaus
So when mortgage backed securities were hot, and investors wanted more... but investment bankers couldnt find qualified applicants, so they lowered credit requirements and started giving out introductory variable loans they knew couldnt be repayed to appease demand... this was because of clinton?
No, silly. Don't you know that everything bad that happens is because of the government? The free market couldn't possibly have gone wrong.
Obama did itSerraph105
Thread answered in the first post. :P
[QUOTE="SoBaus"]
[QUOTE="surrealnumber5"]
i could do a book on this topic, but the two biggest reasons for the crap in the states are 1) S&L bailouts 1989 GB w/Dem congress 2) affordable housing act clinton w/Dem Congress when you take away the risk of failure and then tell banks who they need to extend credit too youre going to cause major problems, there are a myriad of other causes but those are the two biggies with the US, as for the world they invested in US real estate
surrealnumber5
So when mortgage backed securities were hot, and investors wanted more... but investment bankers couldnt find qualified applicants, so they lowered credit requirements and started giving out introductory variable loans they knew couldnt be repayed to appease demand... this was because of clinton?
do you know any thing about that act? because even a backed bank does not want to give loans that it knows are bad, that is the bank taking a known loss. to mitigate that loss they packaged these poison deals and sold them on the market, this caused some purchasing nortic nations entire financial system to collapse. it is good to see someone bit the media spin though, but if i could ask you, what is the point of loaning someone half a million when you know at most youre only going to get 10% of that if you hold the loan, and 85% of it if you sell it on the market?The loans werent bad, assuming the housing market continued to increase.... they were only bad if the housing market declined... guess what happened.
Of course they bought up credit default swaps, and companies like AIG were more than happy to take on the risk... and we all know what happened to AIG.
Conspiracy :o
People are actually going to blame the fair, nothing illegal, regulation is bad, banks?
do you know any thing about that act? because even a backed bank does not want to give loans that it knows are bad, that is the bank taking a known loss. to mitigate that loss they packaged these poison deals and sold them on the market, this caused some purchasing nortic nations entire financial system to collapse. it is good to see someone bit the media spin though, but if i could ask you, what is the point of loaning someone half a million when you know at most youre only going to get 10% of that if you hold the loan, and 85% of it if you sell it on the market?[QUOTE="surrealnumber5"]
[QUOTE="SoBaus"]
So when mortgage backed securities were hot, and investors wanted more... but investment bankers couldnt find qualified applicants, so they lowered credit requirements and started giving out introductory variable loans they knew couldnt be repayed to appease demand... this was because of clinton?
SoBaus
The loans werent bad, assuming the housing market continued to increase.... they were only bad if the housing market declined... guess what happened.
setting interest rates lower than mkt rate tends to inflate other (asset) markets such as real estate, AG started that trend and the bernanke continued it, that is the whole inflating of a "bubble" the burst always follows and is actually healthy for the economy if the market is not propped up and is allowed to normalize, something we are fighting as hard as we can and sub prime mortgages should be assumed defaults, and have been by most of the people(not all) i have talked to within the banking and real estate fields.[QUOTE="Serraph105"]Obama did itSoBaus
well that much is obvious, Obama is a muslim plant from al qaeda since birth. Donald Trump uncovered this fact in detail with the private detectives he hired that gathered massive amounts of incriminating evidence on Obama which he cant release, because hes too patriotic and it might be a blow to the country. How do you think Obama managed to kill Osama? its because thats where he was getting his marching orders from all along.
But on the less proven factual stuff, im wondering... what people actually think caused the recession...
And you would believe that idiot with his fairy tale nonsense? That douche bag is just making up lies just to get a seat in the white house, though I doubt that. Anyways, getting back on topic. I think what caused it was the debt, George Bush, the lousy government, Obama, and those wars against Afghanistan and Iraq.Porn websites.
People stopped buying porn dvds because all the good stuff was available for free on the internet.Due to this,the porn industry(which contributes for 80 percent of US gdp) died and took down the US with it.
[QUOTE="SoBaus"]
[QUOTE="surrealnumber5"] do you know any thing about that act? because even a backed bank does not want to give loans that it knows are bad, that is the bank taking a known loss. to mitigate that loss they packaged these poison deals and sold them on the market, this caused some purchasing nortic nations entire financial system to collapse. it is good to see someone bit the media spin though, but if i could ask you, what is the point of loaning someone half a million when you know at most youre only going to get 10% of that if you hold the loan, and 85% of it if you sell it on the market?
surrealnumber5
The loans werent bad, assuming the housing market continued to increase.... they were only bad if the housing market declined... guess what happened.
setting interest rates lower than mkt rate tends to inflate other (asset) markets such as real estate, AG started that trend and the bernanke continued it, that is the whole inflating of a "bubble" the burst always follows and is actually healthy for the economy if the market is not propped up and is allowed to normalize, something we are fighting as hard as we can and sub prime mortgages should be assumed defaults, and have been by most of the people(not all) i have talked to within the banking and real estate fields.Yea you bundle the crap with the good (and they knew they were making crappy loans), which is fine in mortgage backed securies.... up until the bubble bursts. Companies didnt go under because they carried enough in assets to cover their risks, they went under because they were overleveraged and their toxic assets sunk the ship. Shadow banking was too loosely regulated so they could take on these massive risks way beyond their ability to cover their debts, but of course... the reason nobody stopped them from gambling is somehow due to too much government regulation? Do you actually think a government law is in place to force investment bankers to overleverage themselves? If clinton did this i really want a link...
what ACTUALLY happened is they were making tons of money of security backed mortgages, and everyone was loving the money, so they went deeper and deeper taking on more and more risk thinking the gravy train would never end.... but unfortunately it did. If the government stepped in and said "you are taking on too much debt" meltdown wouldnt have happened.
setting interest rates lower than mkt rate tends to inflate other (asset) markets such as real estate, AG started that trend and the bernanke continued it, that is the whole inflating of a "bubble" the burst always follows and is actually healthy for the economy if the market is not propped up and is allowed to normalize, something we are fighting as hard as we can and sub prime mortgages should be assumed defaults, and have been by most of the people(not all) i have talked to within the banking and real estate fields.[QUOTE="surrealnumber5"]
[QUOTE="SoBaus"]
The loans werent bad, assuming the housing market continued to increase.... they were only bad if the housing market declined... guess what happened.
SoBaus
Yea you bundle the crap with the good (and they knew they were making crappy loans), which is fine in mortgage backed securies.... up until the bubble bursts. Companies didnt go under because they carried enough in assets to cover their risks, they went under because they were overleveraged and their toxic assets sunk the ship. Shadow banking was too loosely regulated so they could take on these massive risks way beyond their ability to cover their debts, but of course... the reason nobody stopped them from gambling is somehow due to too much government regulation? Do you actually think a government law is in place to force investment bankers to overleverage themselves? If clinton did this i really want a link...
what ACTUALLY happened is they were making tons of money of security backed mortgages, and everyone was loving the money, so they went deeper and deeper taking on more and more risk thinking the gravy train would never end.... but unfortunately it did. If the government stepped in and said "you are taking on too much debt" meltdown wouldnt have happened.
i gave two primary causes one was taking the risk of loss out of business george bush Sr. did that when he bailed out the S&Ls the second nail was the act that effectively mandated bad mortgages. reserve rates are set by the fed, not by individual banks, that is one of the keystoens of our Central banking system, the same system that chose to discourage savings by lowering interest rates another key power of the fed..from your posts it seems you are fine and even like bubbles up to the point where they burst, but the more you inflate a bubble the harsher the correction that needs to take place.
[QUOTE="SoBaus"]
[QUOTE="surrealnumber5"] setting interest rates lower than mkt rate tends to inflate other (asset) markets such as real estate, AG started that trend and the bernanke continued it, that is the whole inflating of a "bubble" the burst always follows and is actually healthy for the economy if the market is not propped up and is allowed to normalize, something we are fighting as hard as we can and sub prime mortgages should be assumed defaults, and have been by most of the people(not all) i have talked to within the banking and real estate fields.
surrealnumber5
Yea you bundle the crap with the good (and they knew they were making crappy loans), which is fine in mortgage backed securies.... up until the bubble bursts. Companies didnt go under because they carried enough in assets to cover their risks, they went under because they were overleveraged and their toxic assets sunk the ship. Shadow banking was too loosely regulated so they could take on these massive risks way beyond their ability to cover their debts, but of course... the reason nobody stopped them from gambling is somehow due to too much government regulation? Do you actually think a government law is in place to force investment bankers to overleverage themselves? If clinton did this i really want a link...
what ACTUALLY happened is they were making tons of money of security backed mortgages, and everyone was loving the money, so they went deeper and deeper taking on more and more risk thinking the gravy train would never end.... but unfortunately it did. If the government stepped in and said "you are taking on too much debt" meltdown wouldnt have happened.
i gave two primary causes one was taking the risk of loss out of business george bush Sr. did that when he bailed out the S&Ls the second nail was the act that effectively mandated bad mortgages. reserve rates are set by the fed, not by individual banks, that is one of the keystoens of our Central banking system, the same system that chose to discourage savings by lowering interest rates another key power of the fed..from your posts it seems you are fine and even like bubbles up to the point where they burst, but the more you inflate a bubble the harsher the correction that needs to take place.
So you are telling me, if the fed raised interest rates... all the mortgage borrowers that couldnt pay their interest rates wouldnt have defaulted, because they would have higher interest rates?
You can cut it six ways from sunday but the main reason, and the only reason our financial industry collasped... is because private banks took on more debt/risk than they could handle... and nobody was there to stop them. Bear Sterns, Lehman Bros... would not have gone under if they didnt overleverage themselves. There were no government regulations in place to control how much debt they were taking on.... pure and simple, thats why they failed. They didnt have the capital to cover their debts... and they went under... because nobody stopped them. It was purely free market.
You seem to keep wanting to bring the fed into this... for god knows what reason, i assume you read it on some conservative blog.
Greed.. Our system and many like it holds no accountability for share holders or big executives.. So when their company crash and burns they usually sell before it and make a killing.. Its a completely reactionary system of every man for himself in which accountability doesn't exist what so ever. And when these companies do get in finicial problems the lowest employees pay the price.
i gave two primary causes one was taking the risk of loss out of business george bush Sr. did that when he bailed out the S&Ls the second nail was the act that effectively mandated bad mortgages. reserve rates are set by the fed, not by individual banks, that is one of the keystoens of our Central banking system, the same system that chose to discourage savings by lowering interest rates another key power of the fed..[QUOTE="surrealnumber5"]
[QUOTE="SoBaus"]
Yea you bundle the crap with the good (and they knew they were making crappy loans), which is fine in mortgage backed securies.... up until the bubble bursts. Companies didnt go under because they carried enough in assets to cover their risks, they went under because they were overleveraged and their toxic assets sunk the ship. Shadow banking was too loosely regulated so they could take on these massive risks way beyond their ability to cover their debts, but of course... the reason nobody stopped them from gambling is somehow due to too much government regulation? Do you actually think a government law is in place to force investment bankers to overleverage themselves? If clinton did this i really want a link...
what ACTUALLY happened is they were making tons of money of security backed mortgages, and everyone was loving the money, so they went deeper and deeper taking on more and more risk thinking the gravy train would never end.... but unfortunately it did. If the government stepped in and said "you are taking on too much debt" meltdown wouldnt have happened.
SoBaus
from your posts it seems you are fine and even like bubbles up to the point where they burst, but the more you inflate a bubble the harsher the correction that needs to take place.
So you are telling me, if the fed raised interest rates... all the mortgage borrowers that couldnt pay their interest rates wouldnt have defaulted, because they would have higher interest rates?
You can cut it six ways from sunday but the main reason, and the only reason our financial industry collasped... is because private banks took on more debt/risk than they could handle... and nobody was there to stop them. Bear Sterns, Lehman Bros... would not have gone under if they didnt overleverage themselves. There were no government regulations in place to control how much debt they were taking on.... pure and simple, thats why they failed. They didnt have the capital to cover their debts... and they went under... because nobody stopped them. It was purely free market.
You seem to keep wanting to bring the fed into this... for god knows what reason, i assume you read it on some conservative blog.
If I remember correctly, and perhaps I'm not, but wasn't there a 'social' aspect to this whole thing? I seem to remember (I think it was Clinton and his administration) putting a LOT of pressure on banks to give mortgages/loans to the poorer folk. Trying to make a statement that everyone 'deserves' to be able to be a home-owner. Does that ring a bell with anyone?i gave two primary causes one was taking the risk of loss out of business george bush Sr. did that when he bailed out the S&Ls the second nail was the act that effectively mandated bad mortgages. reserve rates are set by the fed, not by individual banks, that is one of the keystoens of our Central banking system, the same system that chose to discourage savings by lowering interest rates another key power of the fed..[QUOTE="surrealnumber5"]
[QUOTE="SoBaus"]
Yea you bundle the crap with the good (and they knew they were making crappy loans), which is fine in mortgage backed securies.... up until the bubble bursts. Companies didnt go under because they carried enough in assets to cover their risks, they went under because they were overleveraged and their toxic assets sunk the ship. Shadow banking was too loosely regulated so they could take on these massive risks way beyond their ability to cover their debts, but of course... the reason nobody stopped them from gambling is somehow due to too much government regulation? Do you actually think a government law is in place to force investment bankers to overleverage themselves? If clinton did this i really want a link...
what ACTUALLY happened is they were making tons of money of security backed mortgages, and everyone was loving the money, so they went deeper and deeper taking on more and more risk thinking the gravy train would never end.... but unfortunately it did. If the government stepped in and said "you are taking on too much debt" meltdown wouldnt have happened.
SoBaus
from your posts it seems you are fine and even like bubbles up to the point where they burst, but the more you inflate a bubble the harsher the correction that needs to take place.
So you are telling me, if the fed raised interest rates... all the mortgage borrowers that couldnt pay their interest rates wouldnt have defaulted, because they would have higher interest rates?
You can cut it six ways from sunday but the main reason, and the only reason our financial industry collasped... is because private banks took on more debt/risk than they could handle... and nobody was there to stop them. Bear Sterns, Lehman Bros... would not have gone under if they didnt overleverage themselves. There were no government regulations in place to control how much debt they were taking on.... pure and simple, thats why they failed. They didnt have the capital to cover their debts... and they went under... because nobody stopped them. It was purely free market.
You seem to keep wanting to bring the fed into this... for god knows what reason, i assume you read it on some conservative blog.
the reserve rate is not set by the evil banks you want to blame for having no reserves but is and was set by the same people you want to have more control over the banking system. i find this quite perverse, but you also just called banking a free market so i guess this is one of those grain of salt moments.....FYI: i dont venture blogsites and aside from here and facebook i dont do net pontification or interactions with others outside of those sites, i cannot be a political rube, as i have no one to follow.
you want banking to be a free market system, and it is anything but that, and you are even willing to ignore the CENTRAL bank in our Central bankingsystem and all of its actions over the last 25 years.
[QUOTE="SoBaus"]
[QUOTE="surrealnumber5"] i gave two primary causes one was taking the risk of loss out of business george bush Sr. did that when he bailed out the S&Ls the second nail was the act that effectively mandated bad mortgages. reserve rates are set by the fed, not by individual banks, that is one of the keystoens of our Central banking system, the same system that chose to discourage savings by lowering interest rates another key power of the fed..
from your posts it seems you are fine and even like bubbles up to the point where they burst, but the more you inflate a bubble the harsher the correction that needs to take place.
YellowOneKinobi
So you are telling me, if the fed raised interest rates... all the mortgage borrowers that couldnt pay their interest rates wouldnt have defaulted, because they would have higher interest rates?
You can cut it six ways from sunday but the main reason, and the only reason our financial industry collasped... is because private banks took on more debt/risk than they could handle... and nobody was there to stop them. Bear Sterns, Lehman Bros... would not have gone under if they didnt overleverage themselves. There were no government regulations in place to control how much debt they were taking on.... pure and simple, thats why they failed. They didnt have the capital to cover their debts... and they went under... because nobody stopped them. It was purely free market.
You seem to keep wanting to bring the fed into this... for god knows what reason, i assume you read it on some conservative blog.
If I remember correctly, and perhaps I'm not, but wasn't there a 'social' aspect to this whole thing? I seem to remember (I think it was Clinton and his administration) putting a LOT of pressure on banks to give mortgages/loans to the poorer folk. Trying to make a statement that everyone 'deserves' to be able to be a home-owner. Does that ring a bell with anyone?I referenced that in the original post, i believe it started with carter (as an act against racism).... either way its basically the best republicans can come up for as a scapegoat as to why the free markets didnt fail and why its somehow the governments fault.
But its obviously a hot load.
[QUOTE="SoBaus"]
[QUOTE="surrealnumber5"] i gave two primary causes one was taking the risk of loss out of business george bush Sr. did that when he bailed out the S&Ls the second nail was the act that effectively mandated bad mortgages. reserve rates are set by the fed, not by individual banks, that is one of the keystoens of our Central banking system, the same system that chose to discourage savings by lowering interest rates another key power of the fed..
from your posts it seems you are fine and even like bubbles up to the point where they burst, but the more you inflate a bubble the harsher the correction that needs to take place.
surrealnumber5
So you are telling me, if the fed raised interest rates... all the mortgage borrowers that couldnt pay their interest rates wouldnt have defaulted, because they would have higher interest rates?
You can cut it six ways from sunday but the main reason, and the only reason our financial industry collasped... is because private banks took on more debt/risk than they could handle... and nobody was there to stop them. Bear Sterns, Lehman Bros... would not have gone under if they didnt overleverage themselves. There were no government regulations in place to control how much debt they were taking on.... pure and simple, thats why they failed. They didnt have the capital to cover their debts... and they went under... because nobody stopped them. It was purely free market.
You seem to keep wanting to bring the fed into this... for god knows what reason, i assume you read it on some conservative blog.
the reserve rate is not set by the evil banks you want to blame for having no reserves but is and was set by the same people you want to have more control over the banking system. i find this quite perverse, but you also just called banking a free market so i guess this is one of those grain of salt moments.....FYI: i dont venture blogsites and aside from here and facebook i dont do net pontification or interactions with others outside of those sites, i cannot be a political rube, as i have no one to follow.
you want banking to be a free market system, and it is anything but that, and you are even willing to ignore the CENTRAL bank in our Central bankingsystem and all of its actions over the last 25 years.
The federal reserve did not force banks to switch from giving home loans to people with a 650 credit rating, with 20% down... to giving variable interest home loans to people with a 500 credit rating and no money down.
They didnt force banks to overleverage themselves and take on debt they cant repay. They didnt force AIG to insure subprime mortgages.
all of the bad decisions that led to the market collapse were made by an unregulated free market.
Interest rates didnt cause the recession, in fact the fed was what prevented a great depression.
the reserve rate is not set by the evil banks you want to blame for having no reserves but is and was set by the same people you want to have more control over the banking system. i find this quite perverse, but you also just called banking a free market so i guess this is one of those grain of salt moments.....[QUOTE="surrealnumber5"]
[QUOTE="SoBaus"]
So you are telling me, if the fed raised interest rates... all the mortgage borrowers that couldnt pay their interest rates wouldnt have defaulted, because they would have higher interest rates?
You can cut it six ways from sunday but the main reason, and the only reason our financial industry collasped... is because private banks took on more debt/risk than they could handle... and nobody was there to stop them. Bear Sterns, Lehman Bros... would not have gone under if they didnt overleverage themselves. There were no government regulations in place to control how much debt they were taking on.... pure and simple, thats why they failed. They didnt have the capital to cover their debts... and they went under... because nobody stopped them. It was purely free market.
You seem to keep wanting to bring the fed into this... for god knows what reason, i assume you read it on some conservative blog.
SoBaus
FYI: i dont venture blogsites and aside from here and facebook i dont do net pontification or interactions with others outside of those sites, i cannot be a political rube, as i have no one to follow.
you want banking to be a free market system, and it is anything but that, and you are even willing to ignore the CENTRAL bank in our Central bankingsystem and all of its actions over the last 25 years.
The federal reserve did not force banks to switch from giving home loans to people with a 650 credit rating, with 20% down... to giving variable interest home loans to people with a 500 credit rating and no money down.
They didnt force banks to overleverage themselves and take on debt they cant repay. They didnt force AIG to insure subprime mortgages.
all of the bad decisions that led to the market collapse were made by an unregulated free market.
Interest rates didnt cause the recession, in fact the fed was what prevented a great depression.
i think you have now filled my luz quotient for the day, have a good one champ.edit: i dont intend to troll, but i am done, take it how you wish, this post is not meant to invoke any ill feelings for any related party
A large number of financially illiterate people in search of status and an extremely weird and corrupt mortgage financing system.
Out of conrtol banks.
[QUOTE="SoBaus"]
[QUOTE="surrealnumber5"] the reserve rate is not set by the evil banks you want to blame for having no reserves but is and was set by the same people you want to have more control over the banking system. i find this quite perverse, but you also just called banking a free market so i guess this is one of those grain of salt moments.....
FYI: i dont venture blogsites and aside from here and facebook i dont do net pontification or interactions with others outside of those sites, i cannot be a political rube, as i have no one to follow.
you want banking to be a free market system, and it is anything but that, and you are even willing to ignore the CENTRAL bank in our Central bankingsystem and all of its actions over the last 25 years.
surrealnumber5
The federal reserve did not force banks to switch from giving home loans to people with a 650 credit rating, with 20% down... to giving variable interest home loans to people with a 500 credit rating and no money down.
They didnt force banks to overleverage themselves and take on debt they cant repay. They didnt force AIG to insure subprime mortgages.
all of the bad decisions that led to the market collapse were made by an unregulated free market.
Interest rates didnt cause the recession, in fact the fed was what prevented a great depression.
i think you have now filled my luz quotient for the day, have a good one champ.edit: i dont intend to troll, but i am done, take it how you wish, this post is not meant to invoke any ill feelings for any related party
I didnt take it personally, every has different opinions on politics. Naturally i think mine are correct... and might just maybe suggest a little further reading on the subject, if you get bored :P
i think you have now filled my luz quotient for the day, have a good one champ.[QUOTE="surrealnumber5"]
[QUOTE="SoBaus"]
The federal reserve did not force banks to switch from giving home loans to people with a 650 credit rating, with 20% down... to giving variable interest home loans to people with a 500 credit rating and no money down.
They didnt force banks to overleverage themselves and take on debt they cant repay. They didnt force AIG to insure subprime mortgages.
all of the bad decisions that led to the market collapse were made by an unregulated free market.
Interest rates didnt cause the recession, in fact the fed was what prevented a great depression.
SoBaus
edit: i dont intend to troll, but i am done, take it how you wish, this post is not meant to invoke any ill feelings for any related party
I didnt take it personally, every has different opinions on politics. Naturally i think mine are correct... and might just maybe suggest a little further reading on the subject, if you get bored :P
spent many years forming my view, and i have tried to stay as open as humanly possible during that time and away from standard media, i prefer source docs over late night cometary on a report about the reactions to an event. back in my early 20's i was a diehard mainstream economics follower but times change, like i also cannot stand circular arguments, i often walk out of conversations with them, as a youth that was not truePlease Log In to post.
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